MGE’s Annual Company Accountability and Sustainability Report highlights MGE’s ongoing clear power transition and progress towards its industry-leading carbon discount targets.
MADISON, Wis.–(BUSINESS WIRE)–Madison Fuel and Electrical (MGE) has printed its annual Company Accountability and Sustainability Report, detailing its environmental, social and governance (ESG) commitments and progress towards the corporate’s sustainability targets, together with its aim of net-zero carbon electrical energy by 2050.
MGE is working to attain deep decarbonization, according to world local weather science, as shortly, responsibly and cost-effectively as we are able to. With multiple billion {dollars} in funding in clear power and battery storage anticipated from 2015 by 2028, renewable power will proceed to play a major function in serving to to attain our targets of at the least an 80% discount in carbon by 2030 from 2005 ranges and net-zero carbon electrical energy by 2050.
As of year-end 2023, MGE has diminished carbon emissions by about 40% since 2005, our baseline. With accomplished tasks, tasks presently underneath building and proposed tasks awaiting regulatory approval, MGE could have added greater than 500 megawatts (MW) of renewable capability and greater than 95 MW of battery storage from 2015 by 2028.
MGE continues to transition away from coal-fired era and has no sole possession of coal-fired property. By the tip of 2032, MGE expects to have eradicated coal from its possession portfolio.
“Carbon is our goal. On behalf of all MGE clients, by 2030, we count on to ship electrical energy with 80% fewer carbon emissions, and by 2050, we count on to ship net-zero carbon electrical energy,” stated Chairman, President and CEO Jeff Keebler. “We’re transitioning our power provide cost-effectively, participating clients in decarbonization methods and dealing with residential and enterprise clients towards the electrification of transportation and different finish makes use of. We’re working with our clients to create a extra sustainable future whereas making certain continued top-ranked electrical reliability and affordability for our communities.”
MGE stays a nationwide chief in electrical reliability. MGE positioned second for the fewest variety of electrical outages per buyer in 2023, based on an annual {industry} survey together with greater than 75 electrical utilities nationwide. MGE additionally continues to earn excessive marks when notified of a possible emergency, with our complete response time in 2023 rating within the high 10% of a nationwide {industry} survey of greater than 75 pure gasoline utilities.
Focusing on net-zero methane emissions
Greater than half of our greenhouse gasoline (GHG) emissions come from sources already included in our net-zero carbon electrical energy aim. That features emissions from our fossil-fueled electrical era services and bought energy agreements.
Constructing on our sustainability and clear power targets, MGE has a aim to attain net-zero methane emissions from our pure gasoline distribution system by 2035. Along with proactive steps MGE already has taken, methods for attaining net-zero methane emissions embrace enhanced leak detection and restore, the implementation of cost-effective applied sciences and processes, and exploring the usage of renewable pure gasoline (RNG). In 2024, MGE launched a brand new RNG choice for patrons to offset their GHG emissions from their pure gasoline use. MGE is the primary utility in Wisconsin to supply the sort of RNG choice to clients.
Different report highlights
The report and our ESG Knowledge Heart characteristic details about MGE’s company technique and climate-related issues, security and operations, buyer and worker engagement, danger administration, and governance and oversight. Different highlights embrace:
- Increasing our use of agrivoltaics past pollinator habitats to incorporate the usage of sheep for photo voltaic grazing at our Tyto Photo voltaic facility. The sheep are capable of handle the bottom cowl underneath and across the photo voltaic panels in a sustainable manner.
- Growing new choices for patrons serious about renewable power for his or her residence or enterprise.
- Partnering to suggest a first-of-its-kind in america long-duration power storage system that will be able to offering at the least 10 hours of power storage. The 18-MW venture obtained an award for a cooperative settlement with the U.S. Division of Power in July 2024 to assist its building.
- Working with clients to develop and to handle electrical car (EV) charging.
- Partnering with tons of of native organizations and group stakeholders to achieve clients with power effectivity and conservation, security and different data.
- Supporting our communities by charitable giving by the corporate’s philanthropic arm, which has given greater than $8.7 million to greater than 400 nonprofit organizations.
- Partnering to conduct ongoing coaching of our All Hazards Response Plan. In 2024, MGE informally activated the plan for a significant coaching train with native, state and federal companions.
- Welcoming three new administrators in 2024 as a part of ongoing board refreshment.
Dedication to transparency and disclosure
MGE is dedicated to serving to clients, traders and different stakeholders higher perceive the corporate’s targets, long-term methods and progress towards attaining its targets.
Edison Electrical Institute (EEI) and American Fuel Affiliation (AGA) ESG Reporting
MGE continues to take part in EEI’s and AGA’s ESG sustainability reporting templates. The voluntary, industry-specific templates embrace each qualitative and quantitative data. The quantitative template contains knowledge associated to MGE’s power portfolio (era and capability), emissions, capital expenditures, and human and pure sources. The qualitative template contains data associated to the corporate’s methods for transitioning towards deep decarbonization and better sustainability.
MGE’s EEI-AGA templates can be found in our ESG Knowledge Heart, which incorporates different disclosures.
About MGE
MGE generates and distributes electrical energy to 163,000 clients in Dane County, Wis., and purchases and distributes pure gasoline to 176,000 clients in seven south-central and western Wisconsin counties. MGE’s mother or father firm is MGE Power, Inc. The corporate’s roots within the Madison space date again greater than 150 years.
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Steve Schultz
Company Communications Supervisor
608-252-7219 | sbschultz@mge.com
Supply: Madison Fuel and Electrical
